INDEX UPDATE 13th June,2024
* NIFTY (CMP : 23323) Nifty immediate support at 23100 then 23000 zones while resistance at 23500 then 23700 zones. Now it has to hold above 23200 zones for an upside move towards 23500 then 23700 zones whereas supports are placed at 23100 then 23000 zones.
* BANK NIFTY (CMP: 49895) Bank Nifty support at 49500 then 49250 zones while resistance at 50000 then 50500 zones. Now it has to continue to hold above 49500 zones for an up move towards 50000 then 50500 zones while on the downside support shift higher at 49500 then 49250 levels.
* Option Buying: Buy Weekly Nifty 23300 Call till it holds above 23200 zones. Buy Weekly Bank Nifty 50300 Call till it holds above 49500 zones.
* Option Strategy: Nifty Weekly Bull Call Spread (Buy 23300 CE and Sell 23450 CE) at net premium cost of 60-65 points. Bank Nifty Weekly Bull Call Ladder Spread (Buy 50000 CE, Sell 50500 CE and Sell 51000 CE) at net premium cost of 120-140 points.
* Option Writing: Sell Weekly Nifty 23050 PE and Sell 23600 CE with strict double SL. Sell Weekly Bank Nifty 47600 PE and 51700 CE with strict double SL.
Previous Close
174
Trailing SL
168
Target 185
(Duration: 2-3)